Revenue during the quarter grew 5.37 percent to $709.70 million from $673.54 million in the previous year period. Gross margin for the quarter expanded 97 basis points over the previous year period to 58.98 percent. Total expenses were 73.41 percent of quarterly revenues, down from 75.02 percent for the same period last year. This has led to an improvement of 161 basis points in operating margin to 26.59 percent.

Operating income for the quarter was $188.69 million, compared with $168.24 million in the previous year period.

However, the adjusted operating income for the quarter stood at $200.23 million compared to $182.22 million in the prior year period. At the same time, adjusted operating margin improved 116 basis points in the quarter to 28.21 percent from 27.05 percent in the last year period.

Olivier Filliol, president and chief executive officer, stated, “Sales growth in the quarter was better than expected driven by very good results in Europe and Asia / Rest of the World. Sales growth in the Americas was modest, principally due to strong prior-year results. Continued margin expansion drove very good growth in EPS. Finally, cash flow in the quarter was solid and included the unanticipated purchase of our previously leased U.S. pipette manufacturing facility.”

For the first-quarter, Mettler Toledo International forecasts revenue to grow at 8 percent. Mettler Toledo International forecasts revenue to grow at 5.50 percent for the fiscal year 2017. On an adjusted basis, the company projects diluted earnings per share to be in the range of $3.05 to $3.10 for the first-quarter. For financial year 2017, the company projects diluted earnings per share to be in the range of $16.55 to $16.75 on adjusted basis.

The company has spent $231.46 million cash to meet investing activities during the year as against cash outgo of $100.75 million in the last year. It has incurred net capital expenditure of $123.53 million on net basis during the year, up 51.47 percent or $41.98 million from year ago.

The company has spent $145.92 million cash to carry out financing activities during the year as against cash outgo of $307.03 million in the last year period.

Cash and cash equivalents stood at $158.67 million as on Dec. 31, 2016, up 60.46 percent or $59.79 million from $98.89 million on Dec. 31, 2015.

Working capital increases
Mettler-Toledo International Inc has recorded an increase in the working capital over the last year. It stood at $309.27 million as at Dec. 31, 2016, up 15.53 percent or $41.58 million from $267.69 million on Dec. 31, 2015. Current ratio was at 1.53 as on Dec. 31, 2016, up from 1.45 on Dec. 31, 2015.

Cash conversion cycle (CCC) has increased to 41 days for the quarter from 40 days for the last year period. Days sales outstanding went up to 29 days for the quarter compared with 28 days for the same period last year.

Days inventory outstanding was almost stable at 35 days for the quarter, when compared with the last year period. At the same time, days payable outstanding was almost stable at 23 days for the quarter, when compared with the previous year period.